Obviously, we need an enabling framework to discourage fossil fuels and the other ‘dirty’ investments and we have started working towards that – the EU is just developing the legal framework for green finance but, and this is a big but, this does not replace the discussion about ethics that we need to have. Green finance is about where do you invest, not whether you cheat taxes, financial laws or not.
Answered by: Sven Giegold, MEP
- Is the free market compatible with solving climate breakdown? If so, how – seeing as resources are concentrated in the hands of so few and to a large extent fossil fuel companies?
- Given the urgency of the climate change situation, what kind of action should be taken to avert environmental catastrophe?
- Is there a label for sustainable investments? And if so, which institution oversees it?
- How about the environmental sustainability of the policies of your own institution?
- Why are harmful investments legal?